- Sectors
- Corporate Property & Regeneration
Corporate Property & Regeneration
Local authorities are required to operate an asset management strategy met through asset management plans (AMP). The AMP informs the way in which local authorities seek to optimise the use of their estates, linked to service delivery plans and efficiency targets. Each relevant project will also arrive at a best fit solution in relation to the most effective use of the proceeds. Projects could, therefore, be linked to pump priming urban regeneration initiatives or reorganising services into Joint Service Centres (JSC).
This sector covers local authority corporate property, including local authority office accommodation, joint service centres (JSC) and other accommodation, corporate regeneration schemes, and other forms of PPP linked to a local authority’s management of its property portfolio.
Local Partnerships has launched a new tool to improve efficiency in asset management. It is helping local authorities to identify more efficient ways of managing property assets with the Strategic Asset Management Review tool.
Working in partnership with local authorities, Local Partnerships will assess the strengths and weaknesses of a property portfolio with the aim of finding practical solutions to streamline asset management policy and practice. The review will then provide local councils with cost-effective recommendations.
The benefits of good asset management will help to:
- Support wider objectives e.g. regeneration, inclusion, sustainability
- Improve stakeholder satisfaction with property services
- Create a lean, well maintained portfolio which allows the authority to live
within its means by managing property running costs effectively and efficiently - Deliver new capital projects effectively and efficiently
- Maximise returns on any ‘investment’ property
- Deliver continuous improvement through performance management.
In the current economic climate, authorities need to review spending and this includes considering how property assets are managed. Local Partnerships has adapted its extensive in-house experience in delivering gateway reviews to produce a coherent asset management review process which will provide valuable external assessment and practical recommendations to improve the day-to-day running of local authority assets. The review tool will also allow local authorities to adhere to the recommendations made in the recent Audit Commission Report, Room for Improvement, which states that the 4ps’ [now Local Partnerships] new property asset management review process for asset management is available for councils considering how to improve their approach to strategic asset management.
The review tool is also endorsed by the IDeA. John Hayes, Director, Services and Development, at IDeA, has said: “Good asset management contributes to service improvement and can help authorities to develop their financial performance. Part of our work with local authorities is about identifying areas where capital return could be improved. Local Partnerships' asset management review process offers a way of helping local authorities to maximise efficiency.”
Please click here to view the Strategic Asset Management Review tool brochure.
For more information, please contact Nicolas Mattis, Programme Manager on 020 7296 6869 or nicolas.mattis@localpartnerships.org.uk.
